Universal Insurance Hldgs Q2 2024 Adj EPS $1.18 Beats $1.02 Estimate, Sales $380.214M Beat $340.090M Estimate
Portfolio Pulse from Benzinga Newsdesk
Universal Insurance Holdings (NYSE:UVE) reported strong Q2 2024 earnings, with an adjusted EPS of $1.18 beating the $1.02 estimate and sales of $380.214 million surpassing the $340.090 million estimate. This represents significant year-over-year growth in both earnings and sales.
July 25, 2024 | 8:32 pm
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Universal Insurance Holdings (NYSE:UVE) reported Q2 2024 earnings that significantly beat analyst estimates. The company posted an adjusted EPS of $1.18, surpassing the $1.02 estimate by 15.69%, and sales of $380.214 million, exceeding the $340.090 million estimate by 11.80%. This strong performance also marks a notable year-over-year increase in both earnings and sales.
The significant beat on both EPS and sales estimates, along with strong year-over-year growth, is likely to positively impact UVE's stock price in the short term. Investors typically react favorably to companies that exceed expectations, indicating strong operational performance.
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